48,278 Shares in Marqeta, Inc. (NASDAQ:MQ) Purchased by Duality Advisers LP

Duality Advisers LP purchased a new position in shares of Marqeta, Inc. (NASDAQ:MQ) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 48,278 shares of the company’s stock, valued at approximately $337,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. FMR LLC boosted its holdings in Marqeta by 27.1% in the 3rd quarter. FMR LLC now owns 28,456,412 shares of the company’s stock valued at $170,169,000 after purchasing an additional 6,058,777 shares in the last quarter. Alkeon Capital Management LLC boosted its holdings in Marqeta by 94.2% in the 3rd quarter. Alkeon Capital Management LLC now owns 5,155,103 shares of the company’s stock valued at $30,828,000 after purchasing an additional 2,500,000 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in Marqeta in the 3rd quarter valued at approximately $30,347,000. Northern Trust Corp boosted its holdings in Marqeta by 0.6% in the 3rd quarter. Northern Trust Corp now owns 4,370,399 shares of the company’s stock valued at $26,135,000 after purchasing an additional 25,920 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Marqeta by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,478,600 shares of the company’s stock valued at $20,802,000 after purchasing an additional 88,068 shares in the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Price Performance

Shares of NASDAQ MQ opened at $5.41 on Friday. Marqeta, Inc. has a 52-week low of $3.74 and a 52-week high of $7.36. The firm has a fifty day moving average of $5.98 and a 200-day moving average of $6.06.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. Marqeta had a negative net margin of 32.97% and a negative return on equity of 13.80%. The company had revenue of $118.82 million during the quarter, compared to analysts’ expectations of $110.80 million. During the same period in the previous year, the company earned ($0.05) EPS. The business’s quarterly revenue was down 41.7% compared to the same quarter last year. As a group, analysts anticipate that Marqeta, Inc. will post -0.35 EPS for the current fiscal year.

Analyst Ratings Changes

MQ has been the topic of several research analyst reports. Monness Crespi & Hardt initiated coverage on Marqeta in a research note on Tuesday, April 2nd. They set a “buy” rating and a $7.50 price target on the stock. KeyCorp boosted their price target on Marqeta from $7.00 to $8.00 and gave the stock an “overweight” rating in a research note on Monday, January 8th. Bank of America upgraded Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Monday, February 12th. Truist Financial restated a “buy” rating and set a $10.00 price objective (up from $9.00) on shares of Marqeta in a research report on Thursday, February 29th. Finally, Keefe, Bruyette & Woods lifted their price objective on Marqeta from $7.00 to $8.00 and gave the stock a “market perform” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.57.

Marqeta Profile

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services. It offers its solutions in various verticals, including financial services, on-demand services, expense management, and e-commerce enablement, as well as buy now, pay later.